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The Avalanche Foundation is providing up to $3 million in AVAX tokens to Dexalot, the central limit order book (CLOB) decentralized exchange (DEX) built “on an Avalanche Subnet.” The incentives come from Avalanche Multiverse, “a comprehensive program nurturing Avalanche Subnet growth and adoption.
This week, Avalanche will unlock $100 million worth of AVAX tokens. In total, more than $120 million worth of crypto tokens will be introduced in circulation throughout the week.
Avalanche (AVAX) — among the leading layer-1 blockchains for DeFi and Web3 — could suffer a significant negative impact in price on August 26, as 9.54 million AVAX ($101.14 million, at press time prices) of new tokens will be put into circulation on this day.
Research by The Tie show coins tend to drop in the days leading up to the unlock.
According to Token Unlocks, Avalanche will unlock 9.54 million AVAX on August 26 this week, accounting for 2.77% of the total supply, or about $103 million.
Avalanche is on the cusp of a token unlock, but things seem bleak as its price declined heavily in recent days. However, a few metrics did turn bullish.
Following the remarkable recovery in early 2023, the AVAX price action enters a crushing correction phase. Experiencing extensive selling pressure at $21, the AVAX prices fail to find support at any crucial level for long. Bouncing back from $11 in June lit lamps of hope for Avalanche, leading to a 32% gain to reach $15.
AVAX's recovery could be delayed after hitting a potential hurdle amidst a weak BTC.
The world of cryptocurrency is on the brink of a revolutionary transformation as Inspect, a pioneering force in the Web3 domain, and Avalanche, a dynamic smart contracts platform, join forces to pioneer multichain innovation. This strategic partnership, announced by the two companies, heralds a new chapter in the evolution of
AVAX staking will reportedly be among the services offered through AvaCloud. In other words, Avalache just unlocked a new corridor that will facilitate AVAX demand for staking which may encourage a long-term bias.
This incentive to Dexalot affirms its support for innovative Avalanche Subnet projects.
In recognition of their work in the Multiverse Push, the Avalanche Foundation has awarded Dexalot three million AVAX tokens.
The grant is part of Avalanche's Multiverse initiative, an incentive fund that aims to push the growth of new subnets.
Avalanche (AVAX) risks breaking down from a long-term horizontal support area that has been in place for 938 days.
Avalanche (AVAX) has found itself ensnared within a critical price zone, grappling with a lackluster trading volume that has hindered its price action. The coin's journey has been fraught with challenges as market sentiment takes a bearish stance, casting shadows over its potential upward trajectory.
AVAX has struggled to reverse its bearish momentum with price stalling at a critical price zone.
Solana's TVL climbed by almost 15% in the last month. While user activity declined during the same period, the network saw growth in transaction fees and revenue.
The stablecoin issuer launched a service and API that allows developers to create customized wallets for their users.
With an extensive selling phase in action, the AVAX price is 19.24% below the previous swing high of $15.59 within 25 days. The downward trend results in a strong resistance trendline keeping the bullish growth in check, leading to lower high formations. Moreover, the AVAX price is now below the 61.
Interest in RWAs begin to rise. Avalanche's huge investment into the tokenization sector may help improve the condition of the ailing TVL of the protocol.
Ethereum (ETH) competitor Avalance (AVAX) witnessed an uptick in on-chain activity in the second quarter of 2023, according to the crypto data firm Nansen. Avalanche's C-Chain, the project's default smart contract blockchain, saw between 200,000-550,000 daily transactions throughout the second quarter.
In Q2 2023, Avalanche witnessed steady growth in its active users and transactions. However, the same metrics registered declines in Q3.
A recent quadrant chart by TrueUp, a tech recruitment firm, showcased the happiness quotient of crypto industry workers. Surprisingly, the team behind the Avalanche blockchain, Ava Labs, emerged as the “happiest” in the sector.
The Avalanche C Chain saw daily active address and transaction volume – two important metrics to gauge a blockchain's health level – increase significantly in the period.
